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6-K 1 cover6-kq4x24pr.htm 6-K Document

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 6-K
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
 
For the month of March 2025
 
Commission File Number 001-35751
 
STRATASYS LTD.
(Translation of registrant’s name into English)
 
c/o Stratasys, Inc.
5995 Opus Parkway
Minnetonka, Minnesota 55343
  1 Holtzman Street, Science Park
P.O. Box 2496
Rehovot, Israel 76124
     
(Addresses of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
 
Form 20-F ☒      Form 40-F ☐
 
 
 
 
 
 




CONTENTS
 
Quarterly and Annual Results of Operations
 
On March 5, 2025, Stratasys Ltd. (“we” or “us”) announced our financial results for the fourth quarter and fiscal year ended December 31, 2024. A copy of our press release announcing our results is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K (this “Form 6-K”) and is incorporated herein by reference.
 
In conjunction with the conference call being held on March 5, 2025 to discuss our results, we are furnishing a copy of the slide presentation that provides supplemental information regarding our business and our financial results, and which will be referenced on that conference call. We have attached that presentation as Exhibit 99.2 to this Form 6-K, which exhibit is incorporated herein by reference.

The information in this Form 6-K, including Exhibits 99.1 and 99.2, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
 

Exhibits
 
The following exhibits are furnished as part of this Form 6-K:
 
 
 




SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
  STRATASYS LTD.
   
Dated: March 5, 2025 By: /s/ Eitan Zamir
  Name:  Eitan Zamir
  Title: Chief Financial Officer
 

EX-99.1 2 ex991q4-24.htm EX-99.1 Document
Exhibit 99.1
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Stratasys Releases Fourth Quarter and Full Year 2024 Financial Results
•Fourth quarter revenue of $150.4 million, compared to $156.3 million in the prior year period
•Fourth quarter GAAP net loss of $41.9 million, or $0.59 per diluted share, which includes $30.1 million non-cash impairment of an equity investment
•Fourth quarter Non-GAAP net income of $8.5 million, or $0.12 per diluted share
•Full year revenue of $572.5 million, compared to $627.6 million in 2023
•Full year GAAP net loss of $120.3 million, or $1.70 per diluted share, and non-GAAP net income of $4.2 million, or $0.06 per diluted share
•Fourth quarter positive operating cash flow of $7.4 million
•Full year positive operating cash flow of $7.8 million, resulting in $150.7 million cash equivalents and no debt at year-end 2024
•Fourth quarter Adjusted EBITDA of $14.5 million, 9.6% of revenue
•Secures $120 million investment subsequent to quarter end (pending closing) from Fortissimo Capital, a leading Israeli private equity fund investing in technology and industrials
•Provides 2025 outlook
MINNEAPOLIS & REHOVOT, Israel - (BUSINESS WIRE) - March 5, 2025 - Stratasys Ltd. (Nasdaq: SSYS), a leader in polymer 3D printing solutions, today announced financial results for the fourth quarter and full year 2024.
Dr. Yoav Zeif, Stratasys’ Chief Executive Officer, stated, “In 2024 and early 2025, we took several key steps to enhance our leadership and strengthen our position at the forefront of additive manufacturing. We also successfully expanded our adjusted gross margin by 100 basis points, delivered net profitability on an adjusted basis, and generated positive operating cash flow in 2024 with increased cash flow expected in 2025, demonstrating the resilience of our operating model. We took decisive actions to optimize our business while maintaining our ability to scale rapidly as conditions improve. We are pleased to have right-sized the Company and demonstrated the resilience of our operating model and effectiveness of our team.”
Dr. Zeif continued, “Continuing strong customer engagement reaffirms our expectations that once spending constraints ease, adoption rates will accelerate and we will return to growth and generate increased profits. Our healthy balance sheet of $150.7 million in cash, cash equivalents and short-term deposits, with no debt, provides stability and optionality to support our growth. We look forward to closing the $120 million investment from Fortissimo Capital that will further bolster our already robust position to help drive our future growth.”
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Summary - Fourth Quarter 2024 Financial Results Compared to Fourth Quarter 2023:
•Revenue of $150.4 million compared to $156.3 million.
•GAAP gross margin of 46.3%, compared to 44.7%.
•Non-GAAP gross margin of 49.6%, compared to 48.8%.
•GAAP operating loss of $9.7 million, compared to operating income of $5.7 million.
•Non-GAAP operating income of $9.4 million, compared to operating income of $2.0 million.
•GAAP net loss of $41.9 million, or $0.59 per diluted share, compared to a net loss of $15.0 million, or $0.22 per diluted share.
•Non-GAAP net income of $8.5 million, or $0.12 per diluted share, compared to net income of $1.6 million, or $0.02 per diluted share.
•Adjusted EBITDA of $14.5 million, compared to $7.7 million.
•Cash provided by operating activities of $7.4 million, compared to cash used in operations of $7.7 million.
Summary - 2024 Financial Results Compared to 2023:
•Revenue of $572.5 million compared to $627.6 million.
•GAAP gross margin of 44.9%, compared to 42.5%.
•Non-GAAP gross margin of 49.2%, compared to 48.2%.
•GAAP operating loss of $85.7 million, compared to an operating loss of $87.6 million.
•Non-GAAP operating income of $4.9 million, compared to operating income of $12.6 million.
•GAAP net loss of $120.3 million, or $1.70 per diluted share, compared to a loss of $123.1 million, or $1.79 per diluted share.
•Non-GAAP net income of $4.2 million, or $0.06 per diluted share, compared to net income of $7.7 million, or $0.11 per diluted share.
•Adjusted EBITDA of $26.0 million, compared to $35.0 million.
•Cash generated by operating activities of $7.8 million, compared to cash used in operations of $61.6 million.

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Financial Outlook:
Based on current market conditions and assuming that the impacts of global inflationary pressures, relatively high interest rates and supply chain costs do not impede economic activity further, the Company is providing the following outlook for 2025:
•Full year revenue of $570 million to $585 million, improving sequentially through the year.
•Based on current logistics and materials costs, full year non-GAAP gross margins of 48.8%-49.2%, improving sequentially through the year.
•Full year operating expenses in a range of $254 million to $257 million.
•Full year non-GAAP operating margins in a range of 4.0% to 5.0%.
•GAAP net loss of $68 million to $53 million, or ($0.93) to ($0.72) per diluted share.
•Non-GAAP net income of $20 million to $26 million, or $0.28 to $0.35 per diluted share.
•Adjusted EBITDA of $44.0 million to $50.0 million, reflecting Adjusted EBITDA margin of 7.8% to 8.5%.
•Capital expenditures of $25 million to $30 million.
•Expects to generate improved operating and free cashflow, at higher levels than in 2024.
•Expects Fortissimo Capital investment to close in the second quarter 2025.
Appropriate reconciliations between our historical GAAP and non-GAAP financial measures, as well as between the GAAP and non-GAAP financial measures included in our financial outlook for 2025, are provided in the tables at the end of our press release and slide presentation, with itemized detail concerning the non-GAAP financial measures. We have not included, however, a reconciliation of our guidance for non-GAAP gross margins to the most directly comparable GAAP financial measure, as we are unable to do so without unreasonable effort or with reasonable certainty from a quantitative perspective.
Stratasys Ltd. Fourth Quarter 2024 Webcast and Conference Call Details
The Company plans to webcast its conference call to discuss its fourth quarter and full-year 2024 financial results on Wednesday, March 5, 2025, at 8:30 a.m. (ET).
The investor conference call will be available via live webcast on the Stratasys Web site at investors.stratasys.com, or directly at the following web address:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=NYpcz3qp
To participate by telephone, the U.S. toll-free number is 877-407-0619 and the international dial-in is +1-412-902-1012. Investors are advised to dial into the call at least ten minutes prior to the call to register. The webcast will be available for six months at investors.stratasys.com, or by accessing the above-provided web address.
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, healthcare, fashion and education. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
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To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, X/Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the Company’s websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.
Stratasys is a registered trademark and the Stratasys signet is a trademark of Stratasys Ltd. and/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this press release regarding Stratasys' strategy, and the statements regarding its projected future financial performance, including the financial guidance concerning its expected results for 2025 and beyond, are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing sector generally; the global macro-economic environment, including headwinds caused by lingering inflation, relatively high interest rates, unfavorable currency exchange rates and uncertain economic conditions; changes in our overall strategy, including as related to the focused restructuring actions that we have implemented to streamline operations and enhance our go-to-market strategy; the impact of potential shifts in the prices or margins of the products that we sell or services that we provide, including due to a shift towards lower margin products or services; the impact of competition and new technologies, and developments involving competitors in our industry, including merger and acquisition activity involving us and/or our competitors; whether we successfully complete the PIPE transaction whereby Fortissimo Capital will invest $120 million in our company, which could impact our available capital for value-enhancing, inorganic opportunities in the 3D printing industry; potential further charges against earnings that we could be required to take due to impairment of additional goodwill or other intangible assets; the extent of our success at successfully consummating and integrating into our existing business acquisitions or investments in new businesses, technologies, products or services; the potential adverse impact of recent global interruptions and delays involving freight carriers and other third parties on our supply chain and distribution network; global market, political and economic conditions, and in the countries in which we operate in particular; potential adverse effects of Israel’s retaliatory war and military conflicts against the terrorist organization Hamas and other regional terrorist groups or regimes; costs and potential liability relating to litigation and regulatory proceedings; risks related to infringement of our intellectual property rights by others or infringement of others' intellectual property rights by us; the extent of our success at maintaining our liquidity and financing our operations and capital needs; the impact of tax regulations on our results of operations and financial condition; and those additional factors referred to in Item 3.D “Key Information - Risk Factors”, Item 4, “Information on the Company”, Item 5, “Operating and Financial Review and Prospects,” and all other parts of our Annual Report on Form 20-F for the year ended December 31, 2024, which we expect to file with the U.S. Securities and Exchange Commission, or SEC, in the coming days (the “2024 Annual Report”). Readers are urged to carefully review and consider the various disclosures made throughout our 2024 Annual Report and the Reports of Foreign Private Issuer on Form 6-K that attach Stratasys’ unaudited, condensed consolidated financial statements and its review of its results of operations and financial condition, for the quarterly periods throughout 2025, which will be furnished to the SEC throughout 2025, and our other reports filed with or furnished to the SEC, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.
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Any guidance provided, and other forward-looking statements made, in this press release are provided or made (as applicable) as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Use of Non-GAAP Financial Measures
The non-GAAP data included herein, which excludes certain items as described below, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our company in gauging our results of operations (i) on an ongoing basis after excluding mergers, acquisitions and divestments related expense or gains and reorganization-related charges or gains, and legal provisions, (ii) excluding non-cash items such as stock-based compensation expenses, acquired intangible assets amortization, including intangible assets amortization related to equity method investments, impairment of long-lived assets and goodwill, revaluation of our investments and the corresponding tax effect of those items, (iii) for certain non-GAAP measures, after eliminating the impact of changes attributable to currency exchange rate fluctuations, and (iv) after excluding changes in revenues solely attributable to divestitures of former subsidiary companies. These non-GAAP adjustments either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. These non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a period, which may not provide a comparable view of our performance to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results on a GAAP and non-GAAP basis is provided in the tables below.

Yonah Lloyd
CCO, VP Investor Relations
Yonah.Lloyd@stratasys.com
Source: Stratasys Ltd.
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Stratasys Ltd.
Consolidated Balance Sheets
(U.S. $ in thousands)
(Unaudited)
December 31, December 31,
2024 2023
ASSETS
Current assets
Cash and cash equivalents $ 70,200  $ 82,585 
Short-term bank Deposits 80,500  80,000 
Accounts receivable, net of allowance for credit losses of $3,058 and $1,449 as of December 31, 2024 and 2023, respectively
152,979  172,009 
Inventories 179,809  192,976 
Prepaid expenses 7,630  7,929 
Other current assets 21,843  24,596 
 
Total current assets 512,961  560,095 
Non-current assets
Property, plant and equipment, net 184,379  197,552 
Goodwill 99,082  100,051 
Other intangible assets, net 106,253  127,781 
Operating lease right-of-use assets 32,169  18,895 
Long-term investments 80,205  115,083 
Other non-current assets 14,697  14,448 
  
Total non-current assets 516,785  573,810 
  
Total assets $ 1,029,746  $ 1,133,905 
 
LIABILITIES AND EQUITY
Current liabilities
Accounts payable $ 44,977  $ 46,785 
Accrued expenses and other current liabilities 39,749  36,656 
Accrued compensation and related benefits 29,206  33,877 
Deferred revenues- short-term 46,347  52,610 
Operating lease liabilities - short-term 6,935  6,498 
 
Total current liabilities 167,214  176,426 
Non-current liabilities
Deferred revenues - long-term 19,057  23,655 
Deferred income taxes
507  723 
Operating lease liabilities - long-term 25,155  12,162 
Contingent consideration - long-term
4,933  11,900 
Other non-current liabilities 19,889  24,200 
 
Total non-current liabilities 69,541  72,640 
 
Total liabilities $ 236,755  $ 249,066 
 
Commitments and contingencies (see note 11)
 
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 shares; 71,982 shares and 69,656 shares issued at December 31, 2024 and 2023, respectively; 71,716 shares and 69,656 shares outstanding at December 31, 2024 and 2023, respectively $ 202  $ 195 
Treasury shares at cost, 266 and 0 shares at December 31, 2024 and 2023, respectively (1,995) — 
Additional paid-in capital 3,123,024  3,091,649 
Accumulated other comprehensive loss (8,031) (7,079)
Accumulated deficit (2,320,209) (2,199,926)
Total equity 792,991  884,839 
 
Total liabilities and equity $ 1,029,746  $ 1,133,905 




Stratasys Ltd.

Consolidated Statements of Operations
(U.S. $ in thousands, except per share data) Three Months Ended December 31, Twelve Months Ended December 31,
(Unaudited) 2024 2023 2024 2023
Revenues
Products $ 105,035  $ 110,388  $ 391,917  $ 433,741 
Services 45,324  45,949  180,541  193,857 
150,359  156,337  572,458  627,598 
Cost of revenues
Products 53,587  58,275  197,807  226,510 
Services 27,083  28,304  117,835  134,064 
80,670  86,579  315,642  360,574 
Gross profit 69,689  69,758  256,816  267,024 
Operating expenses
Research and development, net 24,785  25,078  99,142  94,425 
Selling, general and administrative 54,604  39,006  243,335  260,179 
79,389  64,084  342,477  354,604 
Operating income (loss) (9,700) 5,674  (85,661) (87,580)
Financial income, net 176  846  1,676  2,993 
Income (loss) before tax (9,524) 6,520  (83,985) (84,587)
Income tax expenses 653  637  2,973  5,782 
Share in losses of associated companies 31,766  20,839  33,325  32,705 
Net loss $ (41,943) $ (14,956) $ (120,283) $ (123,074)
Net loss per ordinary share - basic and diluted $ (0.59) $ (0.22) $ (1.70) $ (1.79)
Weighted average ordinary shares outstanding - basic and diluted 71,406  69,375  70,858  68,666 




Stratasys Ltd.
Three Months Ended December 31,
2024 Non-GAAP 2024 2023 Non-GAAP 2023
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP
U.S. dollars and shares in thousands (except per share amounts)
Gross profit (1) $ 69,689  $ 4,866  $ 74,555  $ 69,758  $ 6,565  $ 76,323 
Operating income (loss) (1,2) (9,700) 19,144  9,444  5,674  (3,659) 2,015 
Net income (loss) (1,2,3) (41,943) 50,462  8,519  (14,956) 16,604  1,648 
Net income (loss) per diluted share (4) $ (0.59) $ 0.71  0.12  $ 0.22  $ 0.24  0.02 
(1) Acquired intangible assets amortization expense 4,496  5,446 
Non-cash stock-based compensation expense 198  879 
Restructuring and other related costs 172  240 
4,866  6,565 
(2) Acquired intangible assets amortization expense 1,153  1,688 
Non-cash stock-based compensation expense 2,856  6,997 
Restructuring and other related costs
5,275  461 
Revaluation of investments 4,697  — 
Contingent consideration (9,148) (23,206)
Net loss from sale of investment
4,760  — 
Legal and other expenses 4,685  3,836 
14,278  (10,224)
19,144  (3,659)
(3) Corresponding tax effect and other expenses 535  489 
Equity method related amortization, divestments and impairments 30,910  19,790 
Finance income (127) (16)
$ 50,462  $ 16,604 
(4) Weighted average number of ordinary shares outstanding- Diluted 71,406  71,740  69,375  69,801 





Stratasys Ltd.
Twelve Months Ended December 31,
2024 Non-GAAP 2024 2023 Non-GAAP 2023
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP
U.S. dollars and shares in thousands (except per share amounts)
Gross profit (1) $ 256,816  $ 24,948  $ 281,764  $ 267,024  $ 35,764  $ 302,788 
Operating income (loss) (1,2) (85,661) 90,594  4,933  (87,580) 100,207  12,627 
Net income (loss) (1,2,3) (120,283) 124,520  4,237  (123,074) 130,783  7,709 
Net income (loss) per diluted share (4) $ (1.70) $ 1.76  $ 0.06  $ (1.79) $ 1.90  $ 0.11 
(1) Acquired intangible assets amortization expense 18,576  19,603 
Non-cash stock-based compensation expense 3,072  3,701 
Restructuring and other related costs 3,300  12,460 
24,948  35,764 
(2) Acquired intangible assets amortization expense 5,847  9,167 
Non-cash stock-based compensation expense 22,546  27,917 
Restructuring and other related costs 17,419  7,087 
Revaluation of investments 6,597  4,880 
Contingent consideration (7,595) (22,331)
Net loss from sale of investment
4,760  — 
Legal and other expenses 16,072  37,723 
65,646  64,443 
90,594  100,207 
(3) Corresponding tax effect 1,267  3,894 
Equity method related amortization, divestments and impairments 31,262  24,871 
Finance expenses 1,397  1,811 
$ 124,520  130,783 
(4) Weighted average number of ordinary shares outstanding- Diluted 70,858 71,177 68,666  69,233 





Stratasys Ltd.
Reconciliation of GAAP net loss to Adjusted EBITDA
Three months ended December 31, Twelve months ended December 31,
2024 2023 2024 2023
(U.S. $ in thousands)
Net loss $ (41,943) $ (14,956) $ (120,283) $ (123,074)
Financial income, net (176) (846) (1,676) (2,993)
Income tax expenses 653  637  2,973  5,782 
Share in losses of associated companies 31,766  20,839  33,325  32,705 
Depreciation expense 5,033  5,653  21,030  22,417 
Amortization expense 5,649  7,134  24,423  28,770 
Non-cash stock-based compensation expense 3,054  7,876  25,618  31,614 
Revaluation of investments 4,697  —  6,597  4,880 
Net loss from sale of investment
4,760  —  4,760  — 
Contingent consideration (9,148) (23,206) (7,595) (22,331)
Legal and other expenses 4,685  3,836  16,072  37,723 
Restructuring and other related costs 5,447  701  20,719  12,460 
Impairments of long lived assets —  —  —  7,087 
Adjusted EBITDA $ 14,477  $ 7,668  $ 25,963  $ 35,040 





Stratasys Ltd.

Reconciliation of GAAP Net Loss to Non-GAAP Net Income Forward Looking Guidance:
Fiscal Year 2025
(in millions, except per share data) Low High
GAAP net loss $(68) to $(53)
Adjustments
Stock-based compensation expense $25 to $27
Intangible assets amortization expense $22 to $24
Reorganization and other $30 to $34
Tax expense related to Non-GAAP adjustments $2 to $3
Non-GAAP net income $20 to $26
GAAP loss per share $(0.93) to $(0.72)
Non-GAAP diluted earnings per share $0.28 to $0.35
Reconciliation of GAAP Net Loss to Adjusted EBITDA Forward Looking Guidance:
Fiscal Year 2025
(in millions, except per share data) Low High
GAAP net loss $(68) to $(53)
Adjustments
Stock-based compensation expense $25 to $27
Intangible assets amortization expense $22 to $24
Reorganization and other $30 to $34
Tax expense related to Non-GAAP adjustments $2 to $3
Other non-operating expense $4 to $4
Depreciation $20 to $20
Adjusted EBITDA $44 to $50




Stratasys Ltd.
Reconciliation of GAAP Operating Loss to Adjusted Non-GAAP Operating Income:
Fiscal Year 2025
(in millions, except per share data) Low High
GAAP operating loss $(57) to $(43)
GAAP operating margins (10)% to (7)%
Adjustments
Stock-based compensation expense $25 to $27
Intangible assets amortization expense $22 to $24
Reorganization and other $26 to $30
Non-GAAP operating profit $24 to $30
Non-GAAP operating margins 4% to 5%

EX-99.2 3 ssysq4andfy2024slides-fi.htm EX-99.2 ssysq4andfy2024slides-fi
Make additive work for you Q4 and FY 2024 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR March 5, 2025


 
Conference Call and Webcast Link US Toll-Free Dial-In 1-877-407-0619 International Dial-In +1-412-902-1012 Make additive work for you Live Webcast and Replay


 
Forward-Looking Statements Cautionary Statement Regarding Forward- Looking Statements The statements in this slide presentation regarding Stratasys' strategy, and the statements regarding its projected future financial performance, including the financial guidance concerning its expected results for 2025, are forward- looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the degree of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing sector generally; global macro-economic trends that have been adversely affecting, and may continue to adversely affect, our results, including relatively high interest rates that reduce capital expenditures; changes in our overall strategy, including as related to the focused restructuring actions that we have implemented to streamline operations and enhance our go-to-market strategy; the impact of potential shifts in the prices or margins of the products that we sell or services that we provide, including due to a shift towards lower margin products or services; the impact of competition, new technologies, and M&A activity among our competitors; whether we successfully complete the PIPE transaction whereby Fortissimo Capital will invest $120 million in our company, which could impact our available capital for value-enhancing, inorganic opportunities in the 3D printing industry; potential further charges against earnings that we could be required to take due to impairment of additional goodwill or other intangible assets that we have recently acquired or may acquire in the future; the extent of our success at successfully integrating into our existing business, or making additional, acquisitions or investments in new businesses, technologies, products or services; potential adverse impact that recent global interruptions involving freight carriers and other third parties may have on our supply chain and distribution network; potential changes in our management and board of directors; global market, political and economic conditions, in the countries in which we operate in particular (including risks stemming from Russia’s invasion of Ukraine); the degree of impact of Israel’s war and military conflicts against Hamas and other regional terrorist organizations and regimes, given our Israeli headquarters, factories and significant operations; costs and potential liability relating to litigation and regulatory proceedings; risks related to infringement of our intellectual property rights by others or infringement of others' intellectual property rights by us; potential cyber attacks against, or other breaches to, our information technologies systems; the extent of our success at maintaining our liquidity and financing our operations and capital needs; the impact of tax regulations on our results of operations and financial condition; and those additional factors referred to in Item 3.D “Key Information - Risk Factors”, Item 4, “Information on the Company”, Item 5, “Operating and Financial Review and Prospects,” and all other parts of our Annual Report on Form 20-F for the year ended December 31, 2024, to be filed with the SEC in early March 2025 (the “2024 Annual Report”). Readers are urged to carefully review and consider the various disclosures made throughout our 2024 Annual Report (once it is filed) and the Reports of Foreign Private Issuer on Form 6-K that will attach Stratasys’ unaudited, condensed consolidated financial statements and its review of its results of operations and financial condition on a quarterly basis, which Stratasys will furnish to the SEC throughout 2025, and our other reports filed with or furnished to the SEC, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects. Any guidance provided, and other forward- looking statements made, in this slide presentation are made as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Make additive work for you


 
Use of Non-GAAP Financial Information Use of Non-GAAP Financial Measures The non-GAAP data included herein, which excludes certain items as described below, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our Company in gauging our results of operations (i) on an ongoing basis after excluding mergers, acquisitions, divestments and strategic process-related expense or gains and reorganization-related charges or gains, legal provisions, and (ii) excluding non- cash items such as stock-based compensation expenses, acquired intangible assets amortization, including intangible assets amortization related to equity method investments, impairment of long- lived assets and goodwill, revaluation of our investments and the corresponding tax effect of those items. The items eliminated via these non-GAAP adjustments either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. These non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a period, which may not provide a comparable view of our performance to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results on a GAAP and non-GAAP basis is provided in a table later in this slide presentation. Make additive work for you


 
CEO Dr. Yoav Zeif  Took leadership-enhancing steps to strengthen our position at the forefront of additive manufacturing  Successfully executed plan to generate profits and cash  Laser-focused strategy around compelling applications centered around full-scale production  36% revenue from manufacturing in 2024, up from 34% in 2023 and just over 25% in 2020 – expect continued growth  Best-in-class solutions are growth engines that will drive revenue and profits as customer engagement remains strong  Challenging macro environment saw 6.9% YoY revenue decline for 2024 after divestments, but GM improved 100bps  Q4 Adj. EBITDA $14.5M / 9.6%, Adj. EPS $0.12 – operational efficiencies should result in sustainably higher profitability in the coming years  Healthy, debt-free operating cash of $150.7M to be bolstered by $120M cash investment by Fortissimo Capital Make additive work for you


 
Make additive work for you More than 30 new materials for Origin P3 DLP, including validating a Forward AM material specifically designed for injection molding tooling, positioning P3 to deliver injection molding-quality results across various applications. Launched FDC filament drying cabinet using patented FDM® technology, increases printer uptime by up to 2.7x. A continuous operation breakthrough in efficiency for large-scale production - a key addition to our end-to-end solution that our customers have asked us to deliver. Introduced PC-ESD material for parts requiring electrostatic discharge protection. Enhanced Ultem 9085 with expanded layer height capabilities and new colors, a significant enabler for Defense partners manufacturing spare parts – already led to increased sales to US Air Force. Technology Update


 
Make additive work for you Aerospace - 3E EOS, a leader in electro-optic systems, significantly expanded its line of Stratasys systems to 15 including F3300, Neo800, F900, F770, Origin One and SAF. 3E expects to see a 40% savings vs. traditional manufacturing methods. Manufacturing - ArcelorMittal, one of the world's largest steel manufacturers, is using FDM with GrabCAD to achieve significant reductions in lead times and enhanced design capabilities for tooling unattainable through conventional machining methods. Automotive - Named the official and exclusive NASCAR 3D printing partner. Multi-year agreement for 3D printing solutions to create parts, tools and aid in accelerating design. More parts produced by traditional manufacturing will now come from our systems. Partnerships Update Andreas “Andy” Langfeld is based in Germany and with Stratasys for over 15 years, most recently as head of EMEA and APAC. As CRO, Andy will enhance global GTM to ensure customer satisfaction and retention, and build on our reseller ecosystem, to strengthen our position and accelerate the adoption of our solutions. New CRO Andy Langfeld


 
Make additive work for you Medical - Joint research with Siemens Healthineers demonstrated the unprecedented accuracy of 3D-printed imaging phantoms to replicate human anatomy. Patient-specific, anatomical models accurately replicate anatomy and pathologies, enhancing the performance of CT scanners, ensuring more accurate diagnostics, improved patient outcomes and lower costs. Dental - TrueDent-D resin is available for sale in Europe as a CE Mark Class 1 medical device. TrueDent is now set to deliver a scalable, efficient, and high-quality solution for denture production across Europe, with dentures expected to be nearly a $2.5 billion opportunity by 2028. Many customers already committed for early 2025. Dental / Medical Update


 
Make additive work for you Full Portfolio Integration - GrabCAD print software suite now supports all five of our technologies. Unified software approach streamlines operations for our customers and reinforces our position as a comprehensive end-to-end solutions provider. Software Update Innovation - Unveiled new GrabCAD IoT Platform, a transformative solution to improve utilization and uptime, providing accurate, real-time data, predictive maintenance and a more efficient support plan – helping digitize customer interactions across our entire ecosystem.


 
CFO Eitan Zamir  Solid execution in Q4 against the ongoing backdrop of adverse macroeconomic factors and related pressures  Customer engagements remain strong, and we believe will translate into meaningful growth once headwinds abate  Cost-savings initiatives we announced last year took effect primarily in the fourth quarter. Fourth quarter results are more indicative of the future impact of these initiatives on an annualized basis  Results demonstrate resilience our diversified offering provides throughout the cycle  2025 Outlook – Raising profits and cash flow for the full year Make additive work for you


 
11 GAAP Non-GAAP Q4-23 Q4-24 Change Y/Y Q4-23 Q4-24 Change Y/Y Total Revenue 156.3 150.4 -3.8% 156.3 150.4 -3.8% Gross Profit 69.8 69.7 (0.1) 76.3 74.6 (1.7)  % Margin 44.7% 46.3% 1.6% 48.8% 49.6% 0.8% Operating Income (Loss) 5.7 (9.7) (15.4) 2.0 9.4 7.4  % Margin 3.6% -6.4% -10.0% 1.3% 6.3% 5.0% Net Income (Loss) (15.0) (41.9) (26.9) 1.6 8.5 6.9  % Margin -9.6% -27.9% -18.3% 1.0% 5.7% 4.7% Diluted EPS (0.22) (0.59) (0.37) 0.02 0.12 0.10 Diluted Shares 69.4 71.4 2.9% 69.8 71.7 2.7% Note: $ in millions unless noted otherwise. All numbers and percentages rounded Financial Results Make additive work for you GAAP Non-GAAP FY-23 FY-24 Change Y/Y FY-23 FY-24 Change Y/Y Total Revenue 627.6 572.5 -8.8% 627.6 572.5 -8.8% Gross Profit 267.0 256.8 (10.2) 302.8 281.8 (21.0)  % Margin 42.5% 44.9% 2.4% 48.2% 49.2% 1.0% Operating Income (Loss) (87.6) (85.7) 1.9 12.6 4.9 (7.7)  % Margin -14.0% -15.0% -1.0% 2.0% 0.9% -1.1% Net Income (Loss) (123.1) (120.3) 2.8 7.7 4.2 (3.5)  % Margin -19.6% -21.0% -1.4% 1.2% 0.7% -0.5% Diluted EPS (1.79) (1.70) 0.09 0.11 0.06 (0.05) Diluted Shares 68.7 70.9 3.2% 69.2 71.2 2.9%


 
Quarterly Trend 110.4 99.2 93.6 94.1 105.1 45.9 44.9 44.4 45.9 45.3 156.3 144.1 138.0 140.0 150.4 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Product Service Q4 2024 Revenue Note: $ in millions unless noted otherwise. All numbers and percentages rounded. Make additive work for you Revenues – Q4’24 Revenue Y/Y Product - $105.1M -4.8%  Systems - $46.7M -1.5%  Consumables - $58.4M -7.3% Services - $45.3M -1.3%  Customer Support - $30.6M -1.0%


 
Revenues – 2024 Revenue Y/Y Product - $392.0M -9.6%  Systems - $140.3M -25.3%  Consumables - $251.7M 2.3% Services - $180.5M -6.9%  Customer Support - $124.7M 0.4% FY 2024 Revenue Make additive work for you Yearly Trend 339.8 417.6 452.1 433.7 392.0 181.0 189.7 199.4 193.9 180.5 520.8 607.2 651.5 627.6 572.5 2020 2021 2022 2023 2024 Product Service * * Reflects ~$26M of MakerBot revenue. Excluding divestment, 2022 revenues of ~$625.5M Note: $ in millions unless noted otherwise. All numbers and percentages rounded


 
GAAP Non-GAAP 47.4% 47.2% 49.8% 50.0% 49.3% 24.4% 38.4% 32.2% 30.7% 35.6% 40.5% 44.6% 44.4% 43.8% 44.8% Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 48.8% 48.6% 49.0% 49.6% 49.6% 52.6% 55.5% 55.6% 55.1% 53.4% 39.8% 33.4% 35.2% 38.5% 40.7% Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Service Gross MarginProduct Gross Margin Total Gross Margin Q4 Gross Margins Make additive work for you All percentages rounded. . . . . . . . . . . . . . . . - - - - - 47.4% 47.2% 49.8% 50.0% 49.3% 24.4% 38.4% 32.2% 30.7% 35.6% 40.5% 44.6% 44.4% 43.8% 44.8% Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 47.2% 49.8% 50.0% 49.3% 49.0% 38.4% 32.2% 30.7% 35.6% 40.2% 44.7% 44.4% 43.8% 44.8% 46.3% Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Sequential improvement driven by higher operational efficiency


 
GAAP Operating Expenses (absolute and as a percentage of revenues) Non-GAAP Operating Expenses (absolute and as a percentage of revenues) 64.1 79.4 52.8% Q4'23 Q4'24 74.3 65.2 Q4'23 Q4'24 43.4%41.0% 47.5% Make additive work for you Note: $ in millions unless noted otherwise. All numbers and percentages rounded. Q4 Operating Expenses Significant improvement driven by our cost saving initiatives


 
(15.0) )41.9( 5.7 (9.7) Non-GAAP operating income (1.3% in Q4’23 vs 6.3% in Q4’24 out of total revenue) GAAP operating income (loss) Non-GAAP net income GAAP net loss Note: $ in millions unless noted otherwise. All numbers and percentages rounded. Q4’23 Q4’24 14.5 7.7 8.5 Adjusted EBITDA (4.9% in Q4’23 vs 9.6% in Q4’24 out of total revenue) 2.0 9.4 1.6 Q4’23 Q4’24 Q4’23 Q4’24 Q4’23 Q4’24 Make additive work for you Q4 Earnings – Adjusted profitability driven by our restructuring plan Q4’23 Q4’24 Q4 non-cash impairment charge of $30.1 million, or $0.42 per share, related to the investment in Ultimaker, a key cause for our larger GAAP net loss in the quarter


 
Balance sheet items Cash flow from operating activities 17 Note: $ in millions unless noted otherwise. All numbers and percentages rounded Make additive work for you (7.7) 7.4 (61.6) 7.8 Q4-23 Q4-24 2023 2024 Healthy Balance Sheet Positioned for Value-Enhancing Opportunities Q4-23 Q3-24 Q4-24 Cash and Cash Equivalents and Short-term deposits 162.6 144.0 150.7 Accounts Receivable 172.0 153.7 153.0 Inventories 193.0 195.2 179.8 Net Working Capital 383.3 349.9 345.7 Strong balance sheet and cash position are set to be further enhanced with the prospective $120 million investment from Fortissimo


 
Revenue Growing sequentially each quarter through the year Non-GAAP Gross Margins Non-GAAP Operating Expenses Non-GAAP Operating Margins Adjusted EPS diluted ($0.93)-($0.72) GAAP EPS diluted CAPEX Adjusted EBITDA 7.8%-8.5% of Revenue $570M – $585M 48.8% – 49.2% $254M – $257M $25M – $30M$44M – $50M Make additive work for you 2025 Outlook $0.28 – $0.354.0% – 5.0% Improved operating and free cash flow at higher levels than 2024


 
CEO Dr. Yoav Zeif Summary  Acknowledge and thank our global team whose professionalism, dedication and hard work continues to drive strong customer engagement and excitement for our solutions  Resounding message from our key customers, many of whom I have met over the past months, is that the increased use of additive manufacturing in their businesses is most certainly expected, once spending constraints lift  Enthusiasm and excitement at the largest trade shows indicates that when our solutions ramp and deliver their exceptional capabilities, significant growth and corresponding operating leverage and margin expansion will follow  Right-sized the business for today, without sacrificing R&D resources for innovation and maintaining the ability to scale quickly as capital spending eases. We believe as the next growth phase of additive manufacturing emerges, we are well- positioned to lead, for today and the future Make additive work for you


 
Make additive work for you THANK YOU


 
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Gross Profit (1) $ 69,689 $ 4,866 $ 74,555 $ 69,758 $ 6,565 $ 76,323 Operating income (loss) (1,2) (9,700) 19,144 9,444 5,674 (3,659) 2,015 Net income (loss) (1,2,3) (41,943) 50,462 8,519 (14,956) 16,604 1,648 Net income (loss) per diluted share (4) $ (0.59) $ 0.71 $ 0.12 $ 0.22 $ 0.24 $ 0.02 (1) Acquired intangible assets amortization expense 4,496 5,446 Non-cash stock-based compensation expense 198 879 Restructuring and other related costs 172 240 4,866 6,565 (2) Acquired intangible assets amortization expense 1,153 1,688 Non-cash stock-based compensation expense 2,856 6,997 Restructuring and other related costs 5,275 461 Revaluation of investments 4,697 — Contingent consideration (9,148) (23,206) Net loss from sale of investment 4,760 — Legal and other expenses 4,685 3,836 14,278 (10,224) 19,144 (3,659) (3) Corresponding tax effect and other expenses 535 489 Equity method related amortization, divestments and impairments 30,910 19,790 Finance income (127) (16) 50,462 16,604 (4) Weighted average number of ordinary shares outstanding- Diluted 71,406 71,740 69,375 69,801 Three Months Ended December 31, 2024 Three Months Ended December 31, 2023 Note: $ in thousands unless noted otherwise. All numbers and percentages rounded. Appendix


 
Note: $ in thousands unless noted otherwise. All numbers and percentages rounded. Appendix - Reconciliation of GAAP Net Loss to Adjusted EBITDA 2024 2023 Net loss $ (41,943) $ (14,956) Financial income, net (176) (846) Income tax expenses 653 637 Share in losses of associated companies 31,766 20,839 Depreciation expense 5,033 5,653 Amortization expense 5,649 7,134 Non-cash stock-based compensation expense 3,054 7,876 Revaluation of investments 4,697 - Net loss from sale of investment 4,760 - Contingent consideration (9,148) (23,206) Legal and other expenses 4,685 3,836 Restructuring and other related costs 5,447 701 Adjusted EBITDA $ 14,477 $ 7,668 Three Months Ended December 31,